Brogan Financial Inc. Purchases 3,326 Shares of Copart, Inc. $CPRT

Brogan Financial Inc. lifted its position in Copart, Inc. (NASDAQ:CPRT) by 90.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,985 shares of the business services provider’s stock after buying an additional 3,326 shares during the period. Brogan Financial Inc.’s holdings in Copart were worth $343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR increased its position in shares of Copart by 0.7% during the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 218 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Copart by 1.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock worth $712,000 after purchasing an additional 220 shares in the last quarter. Brooklyn Investment Group grew its stake in Copart by 4.0% during the 1st quarter. Brooklyn Investment Group now owns 5,780 shares of the business services provider’s stock worth $327,000 after buying an additional 223 shares during the last quarter. Allworth Financial LP grew its stake in Copart by 0.8% during the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after buying an additional 228 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Copart by 15.4% during the 2nd quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock valued at $85,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research analyst reports. HSBC set a $62.00 price target on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Barclays set a $32.00 price objective on shares of Copart in a research note on Tuesday. Finally, Stephens dropped their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Copart currently has a consensus rating of “Hold” and an average price target of $50.00.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by company insiders.

Copart Trading Down 0.1%

CPRT opened at $41.28 on Thursday. Copart, Inc. has a 12-month low of $39.58 and a 12-month high of $64.38. The firm has a 50 day moving average of $44.80 and a two-hundred day moving average of $48.83. The firm has a market capitalization of $39.95 billion, a PE ratio of 25.80 and a beta of 1.06.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.